Once we receive a completed application form along with necessary documents like income proof, identity proof, invoice, and so on, the following steps take place:

Processing/approval of application

Documentation

Sanctioning of the loan

Disbursement of loan

Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete in all respects. The computation of 30 days shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to bank.

Yes, a fixed charge of Rs. 1,000 is applicable if you cancel your Car Loan. Apart from this, certain additional charges such as stamp duty charges, interest accumulation, etc. may also be applicable.
If you would like to place a cancellation request, our representative will provide you with all the necessary details at your nearest Axis Bank Loan Centre.

Standing Instruction (SI): This method can be used if you have an existing savings, salary, or current account with Axis Bank. You may wish to open a savings account with Axis Bank to use this option. Your EMI amount will be debited automatically at the end of the monthly cycle from the Axis Bank account you specify.

Electronic Clearing Service (ECS): This method can be used if you have a non-Axis Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.

Post-Dated Cheques (PDCs) : You can submit post-dated EMI cheques from a non-Axis Bank account at your nearest Axis Bank Loan Center. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.

We recommend that you opt for either the SI or ECS mode of payment as they are both faster and less prone to error than the use of PDCs.

Before we process a foreclosure, all outstanding dues must be cleared.So we request you to first check for and clear any remaining amount that may be payable towards your Car Loan by requesting a foreclosure statement from your nearest Axis Bank Loan Center.
Once all outstanding dues have been cleared, please submit a foreclosure request at the Loan Center, and we will begin processing your request.
To check the charge applicable for the foreclosure, please click here

Axis Bank offers fixed interest rates, which are among the most attractive Car Loan rates in India today. Our Bank has tied up with all leading manufacturers and authorised dealers.
To check the interests rates offered on Car Loans, please click here.

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